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Financial Experts, Asset Prices and Reputation
Rudiger, Jesper; Vigier, Adrien - Volkswirtschaftliche Fakultät, … - 2013
information about the expert's ability is private to traders and only revealed through trades. When the expert's reputation is …
Persistent link: https://www.econbiz.de/10011110283
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Pundits and Quacks
Rudiger, Jesper; Vigier, Adrien - Cowles Foundation for Research in Economics, Yale University - 2015
Do asset prices aggregate investors’ private information about the ability of financial analysts? We show that as financial analysts become reputable, the market can get trapped: Investors optimally choose to ignore their private information, and blindly follow analyst recommendations. As time...
Persistent link: https://www.econbiz.de/10011240393
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Monitoring, Moral Hazard and Turnover
Rothert, Jacek - Department of Economics, University of Texas-Austin - 2009
agent's initial effort has persistent effects, and on the role of reputation in models with endogenous turnover. …
Persistent link: https://www.econbiz.de/10010905941
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Reputation in the presence of noisy exogenous learning
Hu, Ju - In: Journal of Economic Theory 153 (2014) C, pp. 64-73
This note extends Wiseman [6] to more general reputation games with exogenous learning. Using Gossner's [4] relative …
Persistent link: https://www.econbiz.de/10010930785
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Reputation in the Presence of Noisy Exogenous Learning
Hu, Ju - Department of Economics, University of Pennsylvania - 2013
This paper studies the reputation effect in which a long-lived player faces a sequence of uninformed short …
Persistent link: https://www.econbiz.de/10010608020
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Rational Speculation, Financial Crises, and Optimal Policy Responses
Surti, Jay - 2006
This paper develops a theory of the onset of financial crises by solving for the optimal trading strategies of …
Persistent link: https://www.econbiz.de/10012783234
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Bayesian learning and convergence to Nash equilibria without common priors
Nyarko, Yaw - In: Economic Theory 11 (1998) 3, pp. 643-655
Consider an infinitely repeated game where each player is characterized by a "type" which may be unknown to the other players in the game. Suppose further that each player's belief about others is independent of that player's type. Impose an absolute continuity condition on the ex ante beliefs...
Persistent link: https://www.econbiz.de/10005597786
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An Evolutionary Quantum Game Model of Financial Market Dynamics - Theory and Evidence
Gonçalves, Carlos Pedro dos Santos - 2007
The application of mathematical physics to economics has seen a recent development in the form of quantum game theory …. Quantum game theory has become an important field of research in multidisciplinary applications of mathematical physics to the …' dynamics, from the point of view of evolutionary quantum game theory, proposing a quantum game theoretical model of a financial …
Persistent link: https://www.econbiz.de/10012730224
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A constraint programming agent for automated trading
Aurell, E.; Boman, M.; Carlsson, M.; Eriksson, J.; Finne, N. - Society for Computational Economics - SCE - 2002
Persistent link: https://www.econbiz.de/10005345481
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An evolutionary approach to the El Farol game
Tuinstra, J.; Dindo, P.; Hommes, C.H. - Society for Computational Economics - SCE - 2004
A well known problem in economics is to describe properly a situation where N agents are repeatedly competing to use the same limited resource. A version of this problem is known in the literature as the El Farol game: week after week N agents face the decision whether to go or not to go to a...
Persistent link: https://www.econbiz.de/10005537605